Replies to post #15009 on Old Copper Co. Inc. (f/k/a CPPRQ/JCPNQ JC Penney)

[DIDDY28]

I was a part of the Sears BK. It rose from .12 to a high of $2.76.

I feel JCP has a far better outlook with multiple bidders involved, a profitable company “+.13 cents” per share last quarter and lenders fighting in court to lend them money while arguing that a BK is completely unnecessary!

If we see a filing to dismiss the entire BK, I believe we could see upwards of $4 with the amount of shorting going on.


Go JCPNQ
$$$$$$$$$








As always jmho

[DIDDY28]

And I’m not sure anyone has done the math but with Amazon offering bonds to the tune of $10 Billion dollars (most likely to purchase JCP).

JCP has a little over 320 million shares outstanding and a debt load somewhere between 6-7 Billion. If Amazon gets in a bidding war against 1-2 other bidders here is what the math breakdown would look like:

$10 Billion bid Amazon
<7> Billion debt repayments
$3 Billion left over
/320,000,000 shares
=$9.37 per share!

Sure Amazon is not going to willingly want to spend the full $10 Billion but if they get in a bidding war, that may be the result.

I saw a post about Amazon that talked about when they purchased Whole Foods they ended up spending 85% of the Bond money on the bid and the rest on new stores and re-marketing. If that is the case, that would still leave shareholders splitting 1.5 Billion among 320,000,000+ shares equaling $4.69 per share!

That is why JCP asked the court for $3,000,000 in financing to be utilized in equating the proper value of JCP for all bidders.

Go JCPNQ $$$$$$$$$$$$$$$$$$$$$$$$$








As always jmho